Bitcoin Mining

Bitcoin Mining

So I’ve been into Bitcoin for about a year now, Bitcoin Mining is very new to me!

I’ve purchased and sold coins and made a little profit. I sold all my shares last year and invested into Bitcoin just before the price went up. I made more in a week than 10 years of share dealings.

I had all those shiny BTC sitting in cold storage and found a couple of second hand ASIC miners in Spain for sale.

Stupidly I purchased two of the Spondoolies SP20 Jackson Boxes, they are on route. So, Bitcoin Mining here we go! This decision was made after drinking a couple of bottles of Prosecco late one evening, you know, the kind of decision you don’t remember until you read your emails the following morning.

I checked out a couple of mining pools and have registered an account for AntPool and SlushPool.

When the Miners arrive I’ll probably configure one to AntPool and the other to SlushPool. I’ll mine for a couple of sessions and see what works best, then mine that pool 24/7.

I’m lucky to have a server room that holds at a well cool 16 Degrees C so I should be able to hash flat out at 1.7TBPS without hurting the ASIC chips at all.

The Spondoolies SP20 units look fairly good pieces of kit, the reviews speak for themselves. They are old now and not as powerful as the Antminer S7’s but pound for pound I had a really good deal when I purchased them, especially as the BTC price was very low when I did the payment.

Working on some ROI figures the two miners should be fully paid for in 4 1/2 months if I run them flat out, or 5 1/2 months at recommended settings. Note recommended is below 30Deg C as these are designed for ambient locations.

Moving forward at the next difficulty rate, they should pull me in around £100 a month in BTC.

Hope this works or my shiny earnings have just gone to waste.

Spondoolies SP20 Jackson Miner

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